Here is a Series 1929 $20 National Note that was issued by The First National Bank of Waverly, New York. This note has a very low serial number adding collectibility and value.
- These small size National Currency notes were issued beginning in early 1929.
- Housed in an archival quality currency sleeve.
- Very low serial number.
- Evenly circulated $20 note from series 1929 in Very Good condition.
- Face: A portrait of President Andrew Jackson.
- Back: An engraving of the White House.
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This series 1929 is a Type 1 $20 National Note and was issued by The First National Bank of Waverly, New York. Charter #297 denotes that this bank was one of the earlier banks chartered, which happened in 1864.
This note was the last series of National Currency Notes that were first issued in 1863. This type was conceived by Secretary of the Treasury Salmon P. Chase who devised a system of nationally chartered banks. Individual banks purchased U.S. government bonds and deposited them with the comptroller of the currency. For up to 90% of the profit, the comptroller would authorize the production of notes bearing the individual bank’s name.
Since over 12,000 banks were chartered and issued notes, these issues have become highly sought after by collectors.